State-owned Korea Development Bank is in preliminary negotiations with the troubled US investment bank Lehman Brothers to acquire a stake in the latter, reported media sources.
Earlier, Korea Development Bank (KDB) had reportedly announced its plans to buy a 50% stake in Lehman, of which it intended to buy 25% directly and the remaining 25% through a market tender.
The possible acquisition of stake could raise nearly $6 billion for the US bank.
A media source quoted Min Euoo-sung, CEO of KDB, as saying that the bank was in discussions to form a consortium with private banks to jointly buy Lehman, but that a pricing gap with Lehman remained.